Clients of CWG Markets have frequently raised complaints regarding withdrawal issues. One client reported that his request to withdraw over $20,000 was delayed for seven months, with no explanation provided by the broker.
The complainant stated that he was lucky to earn some profit through trading at CWG Markets and emphasized that his gains resulted from standard trading practices.
He requested a withdrawal of about $22,000, but the platform declined to release his profits, citing various reasons, and even froze his funds.
For seven months, CWG Markets retained the investor's funds, despite multiple attempts to reach out via the official email and account manager. However, the investor received no satisfactory response.
Trading account detail provided by the investor.
After searching in the trading community, he realized that he was not the first to face withdrawal issues at CWG Markets, as many clients had expressed their dissatisfaction with the broker due to the same problem.
Among the numerous complaints against CWG Markets, many clients struggling to withdraw their funds suspected the broker of 'maliciously deducting profits'. Some frustrated investors even accused CWG Markets of being a 'scam'.
Several investors in the trading community complained about the withdrawal problems of CWG Markets.
In addition to withdrawal issues, a client reported being penalized due to violations committed by other people. Since joining the platform, he has consistently followed the rules, adhered to standard trading practices, and maintained clear and transparent deposit and withdrawal records.
However, because another client under his Introducing Broker (IB) was suspected of violating the rules, CWG Markets froze the funds of all clients associated with that IB, causing him to be implicated.
The broker assumed that all clients under the same IB were likely in violation of the rules, leading to the freezing of their accounts. This approach disregards the facts and is clearly unjust to clients who adhered to the rules, highlighting operational issues within CWG Markets.
The client stated that he did not violate the rule, but was implicated, which made him very dissatisfied.
CWG Markets offers investment services to clients in the United Kingdom under the regulation of the Financial Conduct Authority (FCA) and serves clients in other regions under the offshore oversight of the Vanuatu Financial Services Commission (VFSC).
CWG Markets is regulated by the FCA and the VFSC.
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